Catalyst Capital closes Fund IV above target

The Canadian distressed-for-control investor closed on $812m. Catalyst’s previous fund hit its $1bn hard-cap in 2011.

Toronto-based distressed investor The Catalyst Capital Group has closed its Fund IV on $812 million, well above the firm’s $750 million target. 

Catalyst focuses on making distressed-for-control control investments in Canadian companies. Limited partners in Fund IV include the Montana Board of Investments, according to Private Equity International’s Research and Analytics division. 

Atlantic-Pacific Capital acted as placement agent for Fund IV.

Catalyst's Fund III closed just above its $1 billion hard-cap in March 2011, according to the firm’s website. The fund attracted commitments from The Alaska Permanent Fund, The Arizona State Retirement System and the Missouri State Employees Retirement System, according to PEI data. 

Catalyst Capital Group was founded in 2002 by Newton Glassman, a former managing director at Cerberus Capital Management. The firm’s portfolio includes Western Canadian-based casino operator Gateway, commercial printing company Quad/Graphics and television content distributor RHI Entertainment. 

Catalyst has more than $2.5 billion of capital under management.